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SOMERO ENTERPRISES , INC FINAL RESULTS Released : 10/03/2021 07:00 RNS Number : 7118R Somero Enterprises Inc. 10 March 2021 March 10 , 2021 ● Somero Enterprises , Inc. reports its annual results for the twelve months ended 31 December 2020 . Financial Highlights Leveraged flexible cost structure when combined with strong H2 trading delivered healthy profits and stable margins ● Global H2 2020 sales were US $ 53.3m ( H1 2020 : US $ 35.3m ) , with record US H2 sales Adjusted EBITDA margin of 29 % ( 2019 : 32 % ) ● Adjusted net income in the year of US $ 18.9m ( 2019 : US $ 21.1m ) Operating cash flows grew to US $ 30.6m in 2020 ( 2019 : US $ 18.9m ) driven by effective working capital management ● Reductions to accounts receivable and inventory provided a significant one - time benefit of US $ 6.7m to 2020 operating cash flow Year - end cash of US $ 35.4m ( 2019 : US $ 23.8m ) reflects the highlest level in Somero's history ● Disciplined return of cash to shareholders Revenue Adjusted EBITDA ( 1,2 ) Adjusted EBITDA margin ( 1,2 ) Profits before tax Somero Enterprises , Inc. ( " Somero " or " the Company " ) Final Results Healthy North American market drives strong finish to 2020 Paid US $ 13.9m in dividends to shareholders in 2020 ( 2019 : US $ 17.4m ) Completed US $ 1.0m share buy - back program authorized in August 2020 Adjusted net income ( 1,3 ) Diluted adjusted net income per share ( 1,3 ) Cash flow from operations Net cash ( 4 ) Ordinary dividend per share Supplemental dividend per share FY20 ( US $ ) 88.6m 26.1m 29 % 24.6m 18.9m 0.33 30.6m 35.4m 0.1681 0.181 FY19 ( US $ ) 89.3m 28.7m 32 % 27.0m 21.1m 0.37 18.9m 23.8m 0.1875 0.077 % Change -1 % -9 % -9 % -10 % -11 % 62 % 49 % -10 % 135 % Operational Highlights Flexible operating model allowed rapid adjustments in response to changing maket conditions in 2020 Trading in each of the six regions grew in H2 2020 compared to H1 2020 , led by North America ● New products contributed meaningfully to 2020 results SkyScreedⒸ 36 , the SRS - 4 boomed - screed , and the Somero Broom + CureTM combined to contribute US $ 7.4m to 2020 revenues Completed the US $ 3.5m expansion to the Houghton , Michigan Operations and Support Center and the US $ 0.5m expansion to the Fort Myers , Florida Global Headquarters and Training Facility Post - Period Highlights Declared a 12.81 US cents per share final 2020 ordinary dividend and a 18.1 US cents per share supplemental dividend , totaling a combined US $ 17.3m , payable on April 30 , 2021 to shareholders on the register at April 2021 Authorized a new share buyback program of an aggregate value of up to US $ 1.0m to offset dilution from on - going equity award programs , expected to be completed by the end of 2021